California Legal Codes and Statutes

§ 31231

Amended by Stats. 1996, Ch. 1064, Sec. 652. Effective January 1, 1997. Operative July 1, 1997.

No licensee shall, except with the prior approval of the commissioner, make, or obligate itself to make, any distribution to its shareholders.

Cite this section

Cal. Fin. Code § 31231 (2026)
https://ca.codecond.com/codes/fin/division-15-business-and-industrial-development-corporations/chapter-4-corporate-matters/article-4-distributions-to-shareholders/section-31231

Other sections in Article 4 - Distributions to Shareholders

§ 31230§ 31231§ 31232§ 31233

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